Page 43 - 01.pdf

NOTES TO THE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2013
1. CORPORATE INFORMATION
AsiaMedic Limited (the “Company”) is a limited liability company incorporated and domiciled in Singapore and is
listed on the Catalist of the Singapore Exchange Securities Trading Limited. The registered office and principal
place of business of the Company is located at 350 Orchard Road, #08-00 Shaw House, Singapore 238868.
The principal activities of the Company are those relating to investment holding and the provision of management
services. The principal activities of the subsidiaries are set out in Note 10 to the financial statements.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2.1 Basis of preparation
The consolidated financial statements of the Group and the statement of financial position and statement
of changes in equity of the Company have been prepared in accordance with Singapore Financial
Reporting Standards (“FRS”).
The financial statements have been prepared on the historical cost basis except as disclosed in the
accounting policies below.
The financial statements are presented in Singapore Dollars (SGD or $).
2.2 Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except in the
current financial year, the Group has adopted all the new and revised standards which are effective for
annual financial periods beginning on or after 1 January 2013. The adoption of these standards did not
have any effect on the financial performance or position of the Group and the Company.
In accordance with the transition provisions of FRS 113 Fair Value Measurement, FRS 113 has been
applied prospectively by the Group on 1 January 2013.
ASIAMEDIC LIMITED
ANNUAL REPORT 2013 41